The millions oF UNI tokens delegated by Binance were a "misunderstood situation", said Binance CEO Changpeng “CZ” Zhao on a Twitter's post, in response to questions about 13.2 million UNI tokens delegated on Oct. 18 that made Binance the second-largest entity by voting power in the Uniswap DAO. According to CZ, a UNI transfer between internal wallets caused the automatic delegation, denying allegations about the crypto exchange using user's tokens to vote. UNI transferred between internal Binance wallets, causing the UNI to be automatically delegated. This is part of their protocol, not "we intended". Binance don't vote with user’s tokens. …

Crypto exchange Binance is now the second-largest entity by voting power in the Uniswap DAO, sitting just behind the venture firm Andreessen Horowitz, or a16z, according to the on-chain list of delegates. On Oct. 18, Binance delegated 13.2 million UNI tokens from its own books, which represents 5.9% of the voting power — a percentage of tokens delegated to the exchange. Compared to the total supply of UNI, the amount delegated represents 1.3%. The move will allow Binance to propose governance votes, as it exceeds a threshold of 0.25%, but it's still below the 4% quorum requirement to pass votes. …

On Tuesday, the product team at cryptocurrency exchange Binance held an ask-me-anything session with users on Reddit. Of particular interest was a discussion that arose regarding retrieval fees for crypto sent on different networks than the recipient's wallet address on Binance. According to user Maxx3141, who brought up the issue: "I accidentally send WETH [wrapped Ether] to my Polygon address two months ago. Your exchange supports Polygon, but just for MATIC. It was only like 100$ in value. I found out you previously could recover this for a 30$ fee, and I thought that was fine. But when I contacted …

Ether (ETH) price has been unable to close above $1,400 for the past 29 days and it has been trading in a relatively tight $150 range. At the moment, the $1,250 support and the $1,400 resistance seem difficult to break, but two months ago, Ether was trading at $2,000. The current price range for Ether simply reflects how volatile cryptocurrencies can be. From one side, investors are calm as Ether trades 50% above the $880 intraday low on June 18. However, the price is still down 65% year-to-date despite the most exciting upgrade in the network's 7-year history. More importantly, …

On Monday, a new report published by Reuters alleged that cryptocurrency exchange Binance "swerved scrutiny" from regulators in the U.K. and U.S. The main spearhead of the allegations arises from two supposed incidents in its operating history. First, Reuters wrote of Binance strategy executive Zoe Wei's proposal to backdate a service agreement relating to various operations between Binance's U.K. unit and Binance's Cayman Islands holding company on March 11, 2020. The move allegedly allowed Binance to exempt itself from registration with the country's Financial Conduct Authority for one year, as any firm operating before January 10, 2020, could do so …

BNB Chain, the native blockchain of Binance Coin (BNB) and the Binance crypto exchange, has been subject to security-related developments over the last month. On Thursday, Oct. 6 the network experienced a multi-million dollar cross-chain exploit. The incident caused BNB Chain to temporarily suspend all withdrawal and deposit activity on the network. Initially, the announcement of the network outage cited “irregular activity” with an update stating it was “under maintenance.” As rumors were confirmed the CEO of Binance, Changpeng Zhao tweeted out an apology for any inconvenience to the BNB Chain community. However the suspension was brief, as the BNB …

Binance Pool, a mining subsidiary of Binance, launched a $500 million lending project to support the crypto mining industry. It will provide loans to private blue-chip Bitcoin (BTC) crypto miners. According to the official blog post from Oct. 14, the Binance Pool will provide access to a $500 million loan fund on several conditions, which include an 18-to-24-month term, 5% to 10% interest rates, and some physical or digital assets as a security. The company will look at a wide range of metrics, including current performance, mining power and security quantity, to define the borrower's creditworthiness. Binance Pool will also …

Crypto exchange Binance announced it will launch its first index product, the Top 10 Equal-Weighted Index, to kick off its Binance CoinMarketCap (CMC) Index Series. The Top 10 Equal-Weighted Index will monitor the performance of the industry’s top 10 cryptocurrencies by market capitalization, such as Bitcoin (BTC) and Ethereum (ETH). Binance indices will utilize pricing information from crypto price tracker CMC, of which the crypto exchange is the owner. According to the announcement, the Equal-Weighted Index will be rebalanced monthly and is designed to help investors evaluate price and performance. The index products, beginning with the Top 10 Equal-Weighted Index, …

As the Web3 space expands, nonfungible token (NFT) use cases continue to develop past the hyped days of stagnant digital art collections. However, even within the art realm, NFT utility is being reinvented, as is the case with a Ukrainian art museum. The Kharkiv Art Museum announced on Oct. 13 its “Art without Borders” NFT collection is now available on the Binance NFT marketplace. It includes 15 pieces of art from the museum’s collection, with proceeds going back to finance the museum and “save the cultural heritage of Ukraine,” as stated by the official announcement. The museum is one of …

Crypto wallet provider Blockchain.com is the latest company to soon cease to provide services to Russian nationals due to the latest sanctions by the European Union. Blockchain.com has notified its users that it’s going to shut down accounts of Russian nationals in two weeks, the local news agency RBC reported on Oct. 14. According to the report, Blockchain.com will allow Russian users to withdraw their funds until Oct. 27, 2022. After that date, the accounts of Russian nationals are reportedly going to be blocked. The statement emphasized that Blockchain.com is currently prohibited from providing custodial and reward services to Russian …

Crypto exchange platform Binance has concluded its 21st quarterly Binance Coin (BNB) burn, eliminating around $547 million worth of BNB tokens from its supply. In an announcement, Binance said that it had destroyed a total of 2,065,152 BNB tokens which is valued at just below $600 million at the time of writing. The exchange also mentioned that an added 4,833.25 BNB was burned through its Pioneer Burn Program, a mechanism that helps users who lost their digital assets through honest mistakes. The exchange covers these losses and returns the tokens to users, depending on specific conditions. These tokens are then …

A hard fork to the BNB Smart Chain, the blockchain of crypto exchange Binance, will take place as a fix for the exploit that drained the platform of an estimated $100 million on Oct. 6, according to a post on GitHub. The release for mainnet and testnet is a "temporary urgent patch to mitigate the cross-chain infrastructure between Beacon Chain and Smart Chain", said the post, aiming to re-enable the cross-chain back. The BNB hard fork, dubbed Moran, will take place at block height 22,107,423 — estimated to occur on Oct. 12 at 4:00am EST . Changes will include fixing …